Arcadia Biosciences (NASDAQ:RKDA) Now Covered by Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a research note issued to investors on Thursday. The brokerage set a “sell” rating on the basic materials company’s stock.

Separately, HC Wainwright reissued a “buy” rating and set a $6.00 target price on shares of Arcadia Biosciences in a research report on Wednesday, August 21st.

Arcadia Biosciences Stock Up 10.6 %

Shares of NASDAQ:RKDA opened at $4.16 on Thursday. The business’s 50 day moving average is $3.16 and its 200 day moving average is $2.92. The stock has a market cap of $5.66 million, a P/E ratio of -0.83 and a beta of 1.27. Arcadia Biosciences has a 52-week low of $1.85 and a 52-week high of $5.34.

Arcadia Biosciences (NASDAQ:RKDA) last posted its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.49). The firm had revenue of $1.31 million for the quarter, compared to the consensus estimate of $0.95 million. Arcadia Biosciences had a negative return on equity of 57.51% and a negative net margin of 127.29%. During the same period in the previous year, the company posted ($2.64) EPS. On average, sell-side analysts anticipate that Arcadia Biosciences will post -1.7 EPS for the current fiscal year.

About Arcadia Biosciences

Arcadia Biosciences, Inc produces and markets plant-based food and beverage products in the United States. The company develops crop improvements primarily in wheat to enhance farm economics by improving the performance of crops in the field, as well as their value as food ingredients. Its food, beverage, and body case products include GoodWheat, Zola coconut water, ProVault topical pain relief, and SoulSpring.